The Coalition shadow treasurer has called for ‘restraint’ in Labor’s 2024 budget to put downward pressure on inflation. Footage: ABC Insiders (May 12, 2024)
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00:00 The starting point for the budget or the test for the budget and the most important one
00:04 is that it's got to bring down Labor's homegrown inflation. They should be restrained in spending.
00:09 They should make sure that the economy grows faster than spending and that's the exact opposite
00:14 of what we've seen in the last two years. So to put this in perspective, we've seen $209 billion
00:20 of additional spending from Labor since they came to power. So that's over $20,000 for every
00:25 Australian household. I'll bet there's not many Australian households out there listening to this
00:29 today who feel as though they've got that benefit. Well, we've already committed to an important tax
00:34 cut and I think this is a very, it's a crucial indicator of where we're going, which is to
00:39 restore the accelerated depreciation that was in place for small to medium-sized businesses
00:44 before COVID. Now, we do need private sector-led investment right now. We don't need government
00:52 to do the investment. We need the private sector to do it.
00:54 [silence]
00:57 [BLANK_AUDIO]